Low HOME Rent definition

Low HOME Rent means a monthly Rent that does not exceed the maximum rent published by HUD for a Very Low Income Household for the applicable bedroom size as set forth in 24 C.F.R. 92.252(b).
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Low HOME Rent means a monthly Rent that does not exceed the maximum rent published by HUD for a Very Low Income Household for the applicable bedroom size as set forth in 24 C.F.R. 92.252(b). (ff) "Low Income Household" means a Tenant with an Adjusted Income that does not exceed eighty percent (80%) of Median Income, with adjustments for smaller and larger families, except that HUD may establish income ceilings higher or lower than eighty percent (80%) of Median Income on the basis of HUD findings that such variations are necessary because of prevailing levels of construction costs or fair market rents, or unusually high or low family incomes, as such definition may be amended pursuant to 24 C.F.R. Section 92.2.
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Low HOME Rent means a monthly rent amount that does not exceed the area 50% rent limit, as determined by HUD, with a utility allowance deduction, approved by the City, for all utility costs to be paid by the tenant.
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Examples of Low HOME Rent in a sentence

  • The rent on said units, including tenant paid utilities, may not exceed the Low HOME Rent specified above, as such rent may be adjusted from time to time by HUD or any successor agency.

  • MONTHLY RENTS: Four units will be subject to the Low HOME Rent limits and five units will be subject to the High HOME Rent limits.

  • If, upon the annual certification of the income of a Tenant of a Very Low Income Unit, Borrower determines that the income of the Tenant has increased above the qualifying limit for a Very Low Income Household, but not above the qualifying income for a Low Income Household, the Tenant may continue to occupy the Unit and the Tenant's Rent will remain at the Low HOME Rent.

  • Subject to the provisions of Section 2.4 below, the Rent paid by Tenants of Very Low Income Units may not exceed the Low HOME Rent.

  • MONTHLY RENTS: Initial Rents – At initial occupancy, unit rent shall not exceed the Low HOME Rent or the Fair Market Rent, whichever is lower.

  • In rental projects with five (5) or more HOME-assisted rental units, at least twenty percent (20%) of the HOME-assisted rental units must be occupied by very low-income families and meet the Low HOME Rent requirements of 24 CFR § 92.252(b).

  • Subject to Section 2.4(b) below, the Rent paid by a Tenant of a Very Low Income Unit, may not exceed the Low HOME Rent.

  • Subject to Subsection (a) above, if, upon the annual certification of the income of a Tenant of a County- Assisted Unit, Borrower determines that the income of a Very Low Income Household has increased above the qualifying limit for a Very Low Income Household, but not above the qualifying income for a Low Income Household, the Tenant may continue to occupy the Unit and the Tenant's Rent will remain at the Low HOME Rent.

  • Tenants entering a unit for the first time shall not be charged more than the HUD-published Low HOME Rent or the Fair Market Rent (FMR), whichever is lower, MINUS an allowance for utilities not paid directly by CASA, as calculated based on charts published by the Durham Housing Authority each year and furnished to CASA by the Grantee at the time of publication.

  • Subject to the provisions of Section 2.3 below, the Rent paid by Tenants of Very Low Income Units, may not exceed the Low HOME Rent.


More Definitions of Low HOME Rent

Low HOME Rent means a monthly rent amount that does not exceed the area 50% rent limit, as determined by HUD, with a utility allowance deduction, approved by the Department, for all utility costs to be paid by the tenant.
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Low HOME Rent means the maximum allowable rent for an Assisted Unit pursuant to Section 2.2(a) below.
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Related to Low HOME Rent

  • Rent as used in this Section 21 shall be deemed to be and to mean all sums of every nature required to be paid by Tenant pursuant to the terms of this Lease, whether to Landlord or to others. As used in Sections 21(c)(ii)(A) and (B), above, the “worth at the time of award” shall be computed by allowing interest at the Default Rate. As used in Section 21(c)(ii)(C) above, the “worth at the time of award” shall be computed by discounting such amount at the discount rate of the Federal Reserve Bank of San Francisco at the time of award plus 1%.

  • Basic Rent means Basic Rent as defined in Paragraph 6.

  • Rental means the Supplier’s charging rate for the hire of the Hire Goods which is current from time to time during the Hire Period;

  • Rentals of a Person means the aggregate fixed amounts payable by such Person under any Operating Lease.

  • Rental housing means development of a building or structure with four or more dwelling units all of which are intended for use as rented residential premises.

  • Parking space leasing data means the following government data on an application for, or lease of, a parking space: residence address, home telephone number, beginning and ending work hours, place of employment, location of parking space, and work telephone number.

  • Operating Lease of a Person means any lease of Property (other than a Capitalized Lease) by such Person as lessee which has an original term (including any required renewals and any renewals effective at the option of the lessor) of one year or more.